Hubbell Incorporated (NYSE:HUBB) Stock Position Reduced by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,957 shares of the industrial products company’s stock after selling 361 shares during the quarter. MetLife Investment Management LLC’s holdings in Hubbell were worth $5,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at approximately $33,000. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the third quarter valued at approximately $41,000. Quarry LP bought a new stake in Hubbell in the second quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 3rd quarter worth $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hubbell during the 2nd quarter valued at $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Trading Up 0.6 %

Shares of HUBB stock opened at $460.09 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1 year low of $295.60 and a 1 year high of $481.35. The firm’s fifty day simple moving average is $445.68 and its 200 day simple moving average is $404.28. The firm has a market capitalization of $24.69 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.